Digg - R.I.P.
Lesson #1: If Google offers you $200 million for a business that has no real focus or vision - TAKE IT. Lesson #2: If the due diligence doesn't back up a $200 million valuation and someone else offers you $80 million - TAKE IT.
Lesson #3: If you ignore Lessons #1 and #2 and decide to redesign your very popular (but unprofitable) website - MAKE SURE IT DOESN'T SUCK.
Lesson #4: If the redesign of the website sucks and the entire world complains - DO SOMETHING ABOUT IT.
Lesson #5: If Lesson #4 is ignored and senior management continues to party like its 2006, YOUR COMPANY IS DYING.
Lesson #6: If your company is dying and you don't have the cure, LET IT DIE WITH DIGNITY AND START OVER.
I'm afraid we're at Lesson #6.
DIGG IS DEAD - R.I.P.
If only the Business Week cover from 2006 were true.While many of the employees of Digg will find it difficult to start over, the founders and senior management team probably will not. Especially Kevin Rose, who is an early investor in Twitter and Zynga. So don't cry for dude. Dude is fine.
Now I've Dugg many stories over the years - mostly an endless link-fest of Slide Shows and Superhero complaints - but it's time to move on.
I suppose I'll just have to "Like" instead of "Digg" (until Facebook becomes worthless - and they are on that path!). After that, I'll probably have to "Shout Out" or "Yeah, Baby" or whatever other little button some company wants me to click whenever I like the new taste of Coke Zero.
"Digg" was cool and nobody can take 2006-2008 away from you guys. That was your time!
So long Kevin, Matt and Jay - who cares if you're not Billionaires? Remember, Millionaires can still get chicks and buy drinks at any bar in the world.
Jill Kennedy - OnMedea0 TrackBacks
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9 Comments
About Jill Kennedy
Jill Kennedy is an Ivy League MBA / refugee from Lehman Brothers.
Manka Bros. (and the Manka Business Channel) hired her (for a very low sum) to cover the world of media (not the world of Medea) in her own words without corporate interference.
About Medea
Medea was a real bitch from classical mythology - as most famously dramatized by Euripides.
She was a sorceress and wife of Jason, whom she assisted in obtaining the Golden Fleece. When Jason deserted her, she chopped up their children. One could say, Medea acted as rationally as a major media company.
Tips, Scoops and Smoking Guns
Yep dead, right. completely agree. I haven't been in months and I just went to see what you're talking about and it's a mess.
Lesson #0 - If your business is based on a feature instead of something more substantial, and adds very little real value to the planet, you'll eventually fail unless you cash in early when the hype is still high and no one realizes the emperor has not clothes...
Jill,
Would love for you to check out Spotery. If you liked submitting stories, you might like it. We're a human edited social news aggregator. Check it out.
Limor
Limor,
After I determined you weren't spam I did check it out and submitted a couple of stories. I like it. Very easy to navigate. I particularly like the related links feature.
Jill
Agreed. Digg has died. Old Dogg and Reddit are getting most of my attention now.
It's not dead you dumbass. Lesson #7 get offered $10 million and take it. Go to Vegas have more fun than you.
to all those who think digg is not deal,kindly check the alexa rating. it's tanking hard and still on a downward path. now the front page is controled by corp asshole sites and only tweens and old idiots use the site.
$10 million?
Who the heck would offer $10m for Digg? That's also a pretty embarrassing number.
I always knew it wasn't profitable and knew it never would be. I got dugg down so hard whenever Digg had a story and I said "Why don't you guys focus on profitability?" and they're just NOW doing that? Oh yes, brilliant timing. I'd say close it down, take what you can get, and run away.
It's amazing how those who profited from Digg are not around to help it out.
That tells you who your real friends are.
Fuck you MrBabyMan!